Funding arb · Price arb /

XPD

RWAall XPD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.016%

Price spread now: KuCoin against Lighter−0.056%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$170as in the Funding arb table

Net, price: spread back to 7d avg − costs−$178as in the Price arb table

costs, in and out, $10k−$1751.749% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 4 days (all we have)+0.031%+$3 · spread now −0.056%, 7d avg −0.023%

Together, before fees+0.081%+ Points / potential airdropLighter: Season 3 · farm board+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.033% cheaper against Lighter than usual: you would sell low and buy high (spread −0.056% now, against its 7-day average of −0.023%). If the spread goes back, that is −$3 on $10k: about 39 hours of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.050% in total) that is about 4.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XPD	1,317.8	0.0032	pay 0.0004% / 1h	15m 55s	$404K	$153K	20x
Short	KuCoin XPDUSDTM	1,317.1	0.0100	get 0.0050% / 4h	15m 55s	$171K	$4K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee LighterbpFee KuCoinbpOrdersPrice spread, now −0.056%Rate

Funding earned: $14.28
Price spread: −0.056% → −0.023%: −$3.31
Slippage, 4 orders: −$162.94
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$163.98
Costs to cover: 1.749%
Break-even: 87.4 days

Slippage from Lighter: live order book, 54 min ago; KuCoin: live order book, 38 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Lighter live order book, 54 min ago	7.97 bp	16.1 bp −$16	37.7 bp −$377	doesn't fit	doesn't fit
Sell KuCoin live order book, 38 min ago	19.05 bp	52.6 bp −$53	476.4 bp −$4,764	doesn't fit	doesn't fit

XPD on 17 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin XPD-USDT	0.0000%	4h	1,318.2	+0.029%	$30K	$19K	100x	as long as short
Binance XPDUSDT	0.0000%	4h	1,317.9	+0.007%	$3.8M	$4.3M	100x	as long as short
Gate XPD_USDT	0.0000%	4h	1,318	+0.013%	$2.0M	$416K	100x	as long as short
MEXC XPD_USDT	0.0000%	4h	1,317.1	−0.055%	$13.2M	$339K	100x	as long as short
Variational Omni XPD	0.0000%	4h	1,317.7	−0.008%	$546K	$16K	—	as long as short
SunX XPD-USDT	0.0000%	4h	1,316.4	−0.107%	—	$1.9M	10x	as long as short
HTX XPD-USDT	0.0000%	4h	1,317.5	−0.027%	$10K	$33K	20x	as long as short
edgeX XPDUSDC	+0.0006%	4h	1,317.4	−0.032%	$38K	$206K	10x	as long as short
gTrade (Gains Network) XPD/USD	L +0.0008% / S −0.0007%	1h	1,315.8	−0.156%	—	—	—	as long as short
Lighter XPDlong	+0.0032%	1h	1,317.8	long leg	$404K	$153K	20x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XPD/USDC PERP	+0.0033%	1h	1,332.8	+1.138%	$16K	$20K	52x	as long as short
Bitget XPDUSDT	+0.0040%	4h	1,317.3	−0.037%	$5.0M	$219K	100x	as long as short
tradeXYZ xyz:PALLADIUM	+0.0049%	1h	1,315.5	−0.175%	$2.7M	$524K	20x	as long as short
Aster XPDUSDT	+0.0094%	4h	1,317.2	−0.042%	$27K	$12K	20x	as long as short
KuCoin XPDUSDTMshort	+0.0100%	4h	1,317.1	−0.056%	$171K	$4K	75x
OKX XPD-USDT-SWAP	+0.0165%	8h	1,317.2	−0.046%	$321K	$486K	50x	as long as short
GRVT XPD_USDT_Perp	+0.0490%	4h	1,317.6	−0.016%	$339K	$944K	25x	as long as short